Any lawful trading/ service providers / Manufactures/ processing units excluding speculative activity.
All types of Traders including Commission Agents / Arthiyas and Manufacturers/ processors.(Individuals, proprietorship firm, companies engaged in trading/service activity and partnership firm excluding a firm where HUF is partner) are eligible.
Nature Of Facility
Only Overdraft facility
Quantum Of Finance
Minimum Rs. 2.00 Lakh
Maximum Rs. 500.00 Lakh
For loan upto Rs. 20.00 lakh the market value of the property should be at least 150% of loan amount and Realizable value should be minimum 120% of the loan amount.
For loan above Rs.20.00 lakh, the market value of the property should be at
least 200% of the limit and Realizable Value should be minimum 150%.
Rate Of Interest
Rate of Interest is based on credit score band and will be fixed ranging from MCLR + 2.25% to MCLR + 3.00%.
- Application form
- Financial Statements in case limit is over Rs.10.00 Lakh
- Copy of Sales Tax / VAT / any other Tax Registration if applicable
- Details of Property offered along with latest valuation
- For existing business, statement of accounts maintained with other Banks